The Federal Government has lauded Shell Nigeria’s decision to commit $2 billion to a new offshore oil project, describing it as a major vote of confidence in the nation’s petroleum sector and a key milestone in its efforts to attract long-term foreign investment.
The Final Investment Decision (FID), which will finance the development of the HI Field within Oil Mining Lease (OML) 144 — located about 50 kilometres off Nigeria’s coastline — was formally presented to the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, by Shell Nigeria’s Country Chair, Mr. Marno de Jong.
According to a statement signed by Nneamaka Okafor, Special Adviser on Media and Communications to the Minister, the agreement was reached between Shell Nigeria Exploration and Production Company (SNEPCo) and Sunlink Energies Resources Limited. The partnership, she noted, reflects the renewed collaboration between international and indigenous energy operators working to expand Nigeria’s production capacity and strengthen its role as a major player in the global oil market.
Senator Lokpobiri welcomed Shell’s commitment, describing the investment as a significant endorsement of the Federal Government’s ongoing reforms in the petroleum industry. He said the move demonstrates the growing trust of global investors in Nigeria’s policy direction, which aims to foster transparency, improve operational efficiency, and promote sustainable development across the energy value chain.
“This $2 billion investment is not just another project,” Lokpobiri stated. “It represents renewed confidence in Nigeria’s oil and gas landscape and a strong signal that our reforms are working. It highlights our government’s commitment to stability, innovation, and economic transformation. We are optimistic that more investors will soon follow this example by making similar long-term commitments.”
The Minister further assured that the government remains committed to maintaining an investment-friendly climate that encourages responsible participation in the energy sector. He noted that beyond increasing crude oil output, projects of this nature will deliver tangible socioeconomic benefits, including job creation, technology transfer, skill development, and increased revenue to support national growth objectives.
Analysts have described Shell’s decision as one of the most encouraging developments in Nigeria’s oil and gas industry in recent years, coming at a time when the global energy landscape is undergoing significant transformation. The investment, they said, could help boost Nigeria’s crude production, support infrastructure expansion, and strengthen the country’s fiscal position amid fluctuating global oil prices.
Observers also note that the partnership between Shell and Sunlink demonstrates a growing trend of collaboration between multinational and local energy firms, which could foster innovation and build capacity for more efficient offshore operations. The HI Field project, according to experts, is expected to reinforce Nigeria’s offshore production capabilities and attract additional foreign capital into the sector.
With the government pushing forward with reforms designed to stabilize the oil industry and diversify energy sources, the Shell FID stands out as a major success in its ongoing efforts to restore investor confidence. It underscores the message that Nigeria remains open for business — and ready to provide the right environment for both international and domestic investors to thrive.
As the nation continues to pursue its broader energy transition goals, the Federal Government insists that future partnerships of this kind will not only drive economic growth but also ensure that investments align with the principles of sustainability, inclusiveness, and national prosperity.
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FG Applauds Shell’s $2bn FID, Says Investment Reinforces Investor Confidence
The Federal Government has lauded Shell Nigeria’s decision to commit $2 billion to a new offshore oil project, describing it as a major vote
